The curve is rising again, with nominal maturities dropping. A risk ‘OFF’ alignment and if this keeps up and one day becomes a trend, it’ll be pleasurable for gold.
10, 5 & 2 year yields from Bloomberg
Indeed, much of what is happening between inflation, deflation and other asset markets on a global scale is good for gold and better for the miners. A couple macro funda’s have been holdouts, with the yield curve being one of them.
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